MAA 2017 New England Institute on Taxation Day 2

Tuesday, November 14, 2017, 8:45 AM - 5:00 PM ET

8:30 - 8:45              Registration and Continental Breakfast

 

8:45 - 10:45  PANEL 5: Ethics - BYPASSING TAX PRACTICE ETHICAL MINEFIELDS

 

This panel covers the five broad areas of AICPA rules, PUB 230 rules, reported court decisions on point, dangerous engagements, and how to effectively craft a tax engagement letter. it will deal with high risk areas in tax practice, tax conflicts of interest, trust fund taxes and fiduciary duty, aggressive tax positions and quantum of necessary support to avoid penalties, preparer v. advisor opinion letter liability, defensive engagement letter components; etc. 

 

Stephen A. Kurzman, CPA, MST - Panel Moderator - Kurzman, Dempsey & Kowalker, LLP

Panelist - To be announced

 

10:45 - 12:25  PANEL 6: Tax Law Update – NEGOTIATING AGREEABLE SETTLEMENTS – WHAT WE WANT YOU TO KNOW

 

Handling a routine audit or collection case is fine but what happens when things do not go your client’s way?  When do you amend tax returns? Do you grant the IRS or State auditor a statute extension? Do you go to Tax Court? What happens when my client owes past due taxes and cannot afford to pay. What are the options and where are the “pennies on the dollar” settlements my clients hear so much about? WHAT WE WANT YOU TO KNOW Thomas and Cory will answer these and other questions with a focus on the who, what, when, where and why of handling Federal and State Tax audit and collection cases…, etc.

 

Cory J. Bilodeau, Esq. - Panel Moderator - Partner, McLaughlin & Quinn, LLC

Thomas P. Quinn, Esq. - Partner, McLaughlin & Quinn, LLC

 

12:25  -  1:25  Luncheon

 

1:25 - 3:05  PANEL 7: Tax Law – TAX ACCOUNTING

 

(1) Significant Opportunities to Expense Capital Expenditures with Tangible Property Regs and Buildings - The IRS has recently finalized their Tangible Property Regulations; so we have some new rules; components now called “Building Systems” and “Units of Property:”  Those who acquire or build improvements on real estate may have elections to make, and new definitions for the improvements, renovations, adaptations, and betterments of their buildings; new definitions to apply -  betterment, restoration, adaptation; maintenance vs. improvements; repairs; new  standards for  Building Systems, Unit of Property, Elections, and Safe Harbors; how to separate the costs between Building System as expensed or capitalized; when charged to a Unit of Property is to be expensed or capitalized; available elections; etc.  (2) Taxable and nontaxable fringe benefit - Accountable vs. non-Accountable Expense Reimbursement Plans; Record keeping requirements of Sec. 274 & Accountable Plans; 50%, 80%, and 100% Deductible Meals; De minimis fringe benefits’ Auto allowances; Company vehicles; Prizes, awards, gifts;  Are meal allowances; Nontaxables; travel allowances nontaxable; meals 100% deductible and nontaxable to employees; (3) Estate tax Updates, etc.

 

John W. Cashman, Jr., CPA – Panel Moderator – Tax Manager, Gray, Gray & Gray
Karen Anne Benoit, CPA, MST – Tax Manager, Gray, Gray & Gray

Kathleen Doris, CPA – Gray, Gray & Gray
Tom Yuen, CPA, MST – Director, Gray, Gray & Gray

 

3:05 - 5:00  PANEL 8: Tax Law - THE CHANGING LANDSCAPE FOR C CORPORATIONS AND PASS-THROUGH ENTITIES

 

The landscape of business taxation continues to evolve and may soon face further changes in the form of uncertain tax reform threatened by Capitol Hill.  This panel will move beyond the political noise to focus on the current state of flow-through and C-corporation taxation, recent legislative and judicial updates, and what you need to know to advise clients today.  With coverage of partnership, S-corporation and C-corporation taxation, this panel will cover tax issues commonly faced by practitioners and provide an update of recent legislative changes and court decisions affecting business taxation.  This panel will begin with a lay of the land overview of Subchapters C, K and S, and will include a comparison of the three regimes with a discussion of the unique planning opportunities available under each Subchapter.  The panel will then move on to legislative and judicial updates including a discussion of the recently finalized (and now effective) disguised sale regulations, the new partnership audit rules and court decisions from the Tax Court and federal circuits.  Tax Matters Partners will soon be out and Partnership Representatives will be in; etc.

 

Cory J. Bilodeau, Esq. - Partner, McLaughlin & Quinn, LLC

 

CPE Credit Hours: 8

Location

Hotel 1620, Plymouth
MA

Contact

Massachusetts Association of Accountants
781-246-7788
info@maacct.org